Decision Maker: Corporate Director Resources & Section 151 Officer
Decision status: Recommendations Approved (subject to call-in)
Is Key decision?: Yes
Is subject to call in?: No
Appendix A (Confidential Legal and Financial Implications) to this report is exempt from publication on the basis that it contains information of the description set out in paragraphs 14 and 16 of Part 4 of Schedule 12A of the Local Government Act 1972.
Agreed: that consent be granted of consent on behalf of the Council, as the Special Shareholder, for Millennium Stadium plc to change its financial arrangements and to increase its guarantee liability or indebtedness above the threshold set out in Article 4.3(q) of the Company’s Articles.
To discharge urgently the Council’s responsibilities as the Special Shareholder of Millennium Stadium plc in response to the impact of the COVID-19 pandemic on the commercial operations of the Welsh Rugby Union (WRU) Group.
Urgent item?: Yes
Publication date: 15/09/2020
Date of decision: 02/09/2020